The Rank Group has reported steady revenue growth in the third quarter of its financial year, with performance driven by gains across both its digital and land-based operations.
Group like-for-like net gaming revenue (NGR) rose 5% year-on-year to £205.4m in the three months to 31 March 2026, while year-to-date NGR increased 6% to £625.2m.
All major divisions delivered positive growth during the Q3. Grosvenor venues, the LSE-listed firm’s largest segment, recorded a 5% increase in NGR to £95m, supported by strong performance in gaming machines, which grew 10%.
Digital revenue also rose, with NGR up 4% to £60.9m. While UK digital growth was more modest at 2%, the international business delivered stronger momentum, with revenue increasing 14% following improvements to platform and customer offering.
Mecca venues reported a 5% rise in NGR to £37.8m, while Enracha venues continued to outperform with growth of 9% to £11.7m, driven by a 27% increase in gaming machine revenue.
The business said strong profit conversion from revenue growth in the quarter has improved its outlook for the full year. It now expects like-for-like underlying operating profit to reach at least £68m – up from its earlier expectation of £65m.
This guidance reflects ongoing cost control measures, particularly within the digital business, where the company has taken steps to offset the impact of an increase in Remote Gaming Duty to 40% in the UK, which has now come into effect.
These measures include reductions in marketing spend, supplier costs and headcount, while maintaining investment in performance marketing and customer incentives.
Looking ahead for Rank Group
The company noted that external factors, including geopolitical uncertainty in the Middle East, could affect international travel and potentially impact venue performance. However, Rank Group still expects continued revenue growth in Q4.
Looking ahead, Rank Group expects to maintain its growth trajectory, supported by ongoing operational improvements and favourable regulatory changes. In particular, the abolition of Bingo Duty from April 2026 is expected to support profitability for its Mecca arm.
“It was pleasing to see continued revenue growth across all businesses and strong profit conversion in Q3, despite a tough macroeconomic backdrop,” said Richard Harris, Interim Chief Executive at Rank Group.
“The results demonstrate the resilience of the business, the strength of the customer proposition and the growth initiatives we have in place.
“Having implemented the actions required to mitigate much of the impact of higher RGD in our UK digital business, and with clear plans in place to drive sustainable revenue growth, the group is well placed to deliver the medium-term objective of generating at least £100m operating profit.”
With revenue rising across all divisions and cost measures in place, the group enters the final quarter of the financial year with positive momentum. This momentum has even been recognised by investors, with Rank Group’s shares up 12% so far following the results announcement and exceeding the £1 mark for the first time in 2026.
The focus now will be on sustaining growth while navigating regulatory and economic headwinds, as well as finalising a new Chief Executive for the business following the retirement of John O’Reilly back in January.
